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In recent years Ghana is challenged with rising debt, surging inflation, and unfavorable unemployment rates. To mitigate their impact on economic prosperity the country requires strategic policy interventions. Using data from 1990 to 2022, this study attempts to analyze the relationship between inflation, public debt, and unemployment in Ghana. The ARDL framework was used to estimate the variables. A long-run relationship between public debt and inflation was established. Notably, inflation correlates negatively with public debt in both short and long -run. Whiles public debt demonstrated a positive correlation with unemployment in both short and long-run, remittances displayed a negative long-run correlation with unemployment. The study suggests that prioritizing domestic debts over foreign debts could be strategic to hedge against inflationary risk. Moreover, we recommend a targeted investment in infrastructure projects and the promotion of agriculture. These initiatives will spur economic growth, engender sustainable development and ultimately create more job opportunities.
Saani et al. (Fri,) studied this question.